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Idaho National Laboratory has selected five teams for its Microreactor Application Research Validation and Evaluation (MARVEL) Project to develop a sodium-potassium–cooled microreactor designed to test microreactor applications, create regulatory processes, and explore electrical and nonelectrical uses.
Advanced nuclear energy start-up Antares has announced the close of a $96 million Series B funding round, led by Shine Capital with participation from Alt Capital, Caffeinated, FiftyThree Stations, Industrious, and other investors. The round raised $71 million in new equity capital and $25 million in debt for equipment, factory build-out, and uranium procurement.
The Department of Energy has selected the Tennessee Valley Authority and Holtec Government Services to support the early deployments of light water small modular reactors in the United States. The companies will each receive as much as $400 million in federal cost-shared funding to advance their initial SMR projects in Tennessee and Michigan, respectively, including follow-on projects and associated supply chains.
The Nuclear Regulatory Commission recently announced that it has completed its final safety evaluation (SE) for the construction permit application for Kemmerer Power Station Unit 1 in Kemmerer, Wyo. The application was submitted by TerraPower on behalf of its wholly owned subsidiary, US SFR Owner (USO).
The Department of Energy recently announced that General Atomics has successfully completed the conceptual design of its new helium gas–cooled fast modular reactor (FMR). This milestone moves the company one step closer to a target demonstration in the 2030s.
Advanced reactor developer X-energy has announced that it has closed an oversubscribed Series D financing round of approximately $700 million. The funding proceeds are expected to be used to help continue the expansion of its supply chain and the commercial pipeline for its Xe-100 advanced small modular reactor and TRISO-X fuel, according the company.
As part of the Janus Program, announced in October, the Department of the Army is seeking potential commercial vendors to build microreactor power plants at nine military installations that are under consideration.
Valar Atomics has announced that its Nova Core achieved zero-power criticality on November 17 at Los Alamos National Laboratory’s National Criticality Experiments Research Center (NCERC) at the Nevada National Security Site.
It has been about three months since the Department of Energy named 10 companies for its new Reactor Pilot Program, which maps out how the DOE would meet the goal announced in May by Executive Order 14301 of having three reactors achieve criticality by July 4, 2026.
Hawthorne, Calif.–based reactor start-up Valar Atomics recently announced that it has raised $130 million in its Series A funding round, led by venture capital groups Snowpoint, Day One, and Dream.
Newcomer reactor start-up First American Nuclear (FANCO) has partnered with the state of Indiana to develop three projects: its company headquarters, new manufacturing facilities, and a nuclear energy park.
Constellation is considering adding 2,000 MW of nuclear energy at Calvert Cliffs, located on Chesapeake Bay near Lusby, Md., which would effectively double the site’s output, according to the company’s near- and long-term project proposals submitted to the Marland Public Service Commission this week.
The Nuclear Regulatory Commission and the Department of Energy have updated a 2019 memorandum of understanding to coordinate on the review of advanced nuclear reactors and advanced reactor fuel technologies.
The European Investment Bank recently announced that it is providing €90 million ($103.8 million) in financing to Finnish nuclear power company Teollisuuden Voima Oyj (TVO). The funding is to be used by TVO to support new upgrades and maintenance at the Olkiluoto nuclear power plant.
New York is going after nuclear in a big way. The New York Power Authority is releasing its first solicitations for plans to develop advanced nuclear reactors in the state’s upstate communities, the power authority announced on October 30.
Four nominees to serve on the Tennessee Valley Authority Board of Directors told the Senate Environment and Public Works Committee that they support the build-out of new advanced nuclear reactors to meet the increased energy demand being shouldered by the country’s largest public utility.
A year ago this month, Amazon led a $500 million investment in X-energy, alongside Citadel founder Ken Griffin, the University of Michigan, and other investors. In addition to that financing, Amazon pledged to support the development of an initial four-unit, 320-MW project with Energy Northwest in Washington state.
The U.S. Army is moving forward with additional advanced reactor programs—building on multiple military efforts already underway as well as a separate pilot program at the Energy Department.
It’s been a good month for Nano Nuclear in the state of Illinois. On October 7, the Office of Governor J.B. Pritzker announced that the company would be awarded $6.8 million from the Reimagining Energy and Vehicles in Illinois Act to help fund the development of its new regional research and development facility in the Chicago suburb of Oak Brook.
Radiant Industries will build its first portable nuclear reactor at the site of the Manhattan Project in Oak Ridge, Tenn.
The land for Radiant’s new factory includes portions of the K-27 and K-29 Manhattan Project sites. The company plans to test Kaleidos, a 1-MW nuclear microreactor, in 2026, with first deployments expected soon after.